Azerbaijan's SMBDA launching new project

By Trend

The Small Business Development Agency of the Republic of Azerbaijan (SMBDA) is launching a new project for entrepreneurs, the chairman of the agency's board Orkhan Mammadov said at the II Forum of Young Entrepreneurs in Baku, Trend reports.

"At today's forum, we will listen to young entrepreneurs who will talk about their problems and proposals in order to create appropriate mechanisms for development and interaction. All the necessary tools have been created in our country for the effective development of entrepreneurial activity, and this work continues both in large cities and in the districts," Mammadov said.

He also noted that the agency is interested in the development of young entrepreneurs, startup developers and their activities.

"We have our own special centers, where young specialists can take appropriate courses for free and gain knowledge in the field of doing business. The number of business managers is growing in Azerbaijan, which is facilitated by a joint program with GIZ (German Agency for International Cooperation). To date, 480 participants have completed these courses in Germany," he said.

“Also, through our online platform, entrepreneurs and young professionals can connect to our resources and learn how to do business correctly. In addition, we have an e-commerce platform. 15 entrepreneurs received grants, and the second stage of accepting applications has already begun," Mammadov added.

According to chairman of the agency, SMBDA attaches great importance to the sector of innovation and technology.

“Thus, we issue startup certificates that exempt entrepreneurs from taxes and fees. Half of those who received such certificates are young entrepreneurs. Also, these certificates increase investment potential, expand opportunities for entering foreign markets. Until today, 360 participants have been involved in the SME Development Agency on a voluntary basis, some of them are already working in various sectors. I call on all young businessmen to work closely with our agency," Mammadov said.